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These days, finding an affordable place to live in the Petroleum area can be challenging. Home prices in Petroleum are now at a median cost of $143,127, lower than the Indiana average of $232,932.
The average cost of rent is $750/mo in Petroleum, primarily driven by the current value of real estate in the Petroleum area. In Petroleum, 26.41% of households rent, and 46.60% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Petroleum is $5,962 per month. Households that rent pay about 12.58% of their income on rent here. Petroleum’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Keystone, IN: higher priced homes
- Reiffsburg, IN: higher priced homes
- Domestic, IN: equally priced homes
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- Poneto, IN: higher priced homes
- Vera Cruz, IN: higher priced homes
- Poling, IN: higher priced homes
- Montpelier, IN: less expensive homes
- Bluffton, IN: higher priced homes
- Liberty Center, IN: less expensive homes
Cities with Similar Populations
- South Berne, NY: higher priced homes
- Lacon, KY: higher priced homes
- Skyline, KY: less expensive homes
- Smale, AR: less expensive homes
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- Snap, KY: higher priced homes
- Snoqualmie Pass, WA: higher priced homes
- Snow Hill, AR: less expensive homes
- Solano, NM: higher priced homes
- Somerset, CO: higher priced homes
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